LyondellBasell Industries (NYSE:LYB) Stock Bumped Up to Hold by Barclays

Barclays upgraded shares of LyondellBasell Industries (NYSE:LYB) to a hold rating in a research report released on Monday,Zacks reports.

Other equities analysts have also issued reports about the stock. Mizuho lifted their price objective on shares of LyondellBasell Industries from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. upgraded LyondellBasell Industries from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $75.00 to $80.00 in a report on Monday, August 3rd. Alembic Global Advisors lowered their target price on LyondellBasell Industries from $95.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday, July 2nd. UBS Group dropped their target price on LyondellBasell Industries from $64.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 25th. Finally, Zacks Research downgraded LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $71.50.

LyondellBasell Industries Stock Up 1.9%

Shares of LyondellBasell Industries stock opened at $61.16 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94. The firm’s 50-day moving average is $62.34 and its two-hundred day moving average is $64.86. The stock has a market cap of $19.76 billion, a price-to-earnings ratio of -54.12, a PEG ratio of 0.16 and a beta of 0.30.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $9.21 billion. During the same quarter last year, the firm posted $0.62 EPS. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, research analysts expect that LyondellBasell Industries will post 9.19 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries’s dividend payout ratio (DPR) is currently -244.25%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. HBW Advisory Services LLC increased its stake in shares of LyondellBasell Industries by 51.9% in the third quarter. HBW Advisory Services LLC now owns 47,504 shares of the specialty chemicals company’s stock worth $2,730,000 after acquiring an additional 16,241 shares during the period. Lipe & Dalton raised its holdings in shares of LyondellBasell Industries by 1.2% during the third quarter. Lipe & Dalton now owns 41,970 shares of the specialty chemicals company’s stock worth $2,412,000 after purchasing an additional 500 shares during the last quarter. Mather Group LLC. raised its holdings in shares of LyondellBasell Industries by 431.1% during the third quarter. Mather Group LLC. now owns 9,241 shares of the specialty chemicals company’s stock worth $531,000 after purchasing an additional 7,501 shares during the last quarter. Fortitude Family Office LLC raised its holdings in shares of LyondellBasell Industries by 221.0% during the third quarter. Fortitude Family Office LLC now owns 504 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 347 shares during the last quarter. Finally, Krilogy Financial LLC lifted its position in LyondellBasell Industries by 15.9% during the third quarter. Krilogy Financial LLC now owns 16,809 shares of the specialty chemicals company’s stock valued at $999,000 after purchasing an additional 2,310 shares during the period. Institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces materials used across a wide range of industrial and consumer applications. Its portfolio includes olefins and polyolefins, such as polyethylene and polypropylene, as well as propylene oxide, oxyfuels, solvents, and other chemical intermediates.

The company’s products are used in packaging, healthcare, automotive components, construction materials, agriculture, home furnishings, and consumer goods. LyondellBasell also develops advanced polymer compounds and participates in recycling and circular-economy initiatives designed to increase the reuse of plastic materials.

LyondellBasell serves customers in markets throughout North America, Europe, Asia, and other international regions through manufacturing facilities, research operations, and commercial activities around the world.